Spotlighting Elder Care Business Opportunities: 2019 Statistics
In 2019, elder care business opportunities abound. A quick Google query for “elder care business opportunities” yield 190,000,000 results, which would take a lifetime to comb through.
So why are so many people talking about the senior care industry? What makes the Executive Care opportunity so valuable?
Today’s post spotlights 3 transformative market stats that make senior care opportunities shine brighter than ever.
The ‘2030 Problem’ is Creating Incredible Elder Care Business Opportunities
If you’re researching elder care business opportunities, you’ve probably already heard about the ‘2030 Problem.’ This term is used by healthcare experts and demographers to describe the historic population shift that will occur in 2030, when 1 in 5 Americans will be over the age of 65, and seniors will outnumber children for the first time ever.
It doesn’t take a business expert to ascertain how the ‘2030 problem’ affects the senior care industry. How many other businesses are lucky enough to have their target audience multiply like this?
And in 2019, the ‘2030 problem’ is still 11 years away, which is plenty of time to get in on the ground floor and take full advantage of these once in a lifetime elder care business opportunities.
The Healthcare System Needs your Help Meeting Long-Term Care Needs
As lifespans increase and the senior population swells, greater demand is placed on America’s long-term care capacity.
Historically, most medical care focused on treating “acute, episodic illness” (Schoen et al., 2009, p. 1). As such, few programs and services were developed to prevent complications and deterioration resulting from incurable chronic conditions (Schoen et al., 2009, p. 1).
And while our healthcare system has made an admirable strategic shift, it can still use all the help it can get. So private care companies are welcomed by communities with open arms.
In this climate, you’ll really feel the love, and enjoy less competition than you might expect.
“Aging In Place” Is Now The #1 Option for Retirement Living
Aging in place means growing old in the home you love, surrounded by all its comforts and happy memories, instead of moving to an assisted living facility or retirement home. Most older adults prefer the former.
According to new research by the AARP and Retirement Living Information Center, just over 80% of survey respondents indicated that they plan on living at home as they age. Unsurprisingly, most people want to stay in their home because it’s near places they frequent (grocery stores, doctor’s offices, libraries, etc.) and the people they love, with over 80 percent saying it’s important or extremely important.
That means over 80% of the booming senior population will be turning to businesses like yours in 2019 and beyond.
Discover Elder Care Business Opportunities Near You
Ready to learn more about Executive Care opportunities near you?
Call 1-855-393-2372 to book a free consultation with a representative, or visit our website to browse more informational articles and book online.
Schoen, C., Osborn, R., How, S. K., Doty, M. M., & Peugh, J. (2009). In chronic condition: experiences of patients with complex health care needs, in eight countries, 2008. Health Affairs, 28(1), 1-16.
Zhang, J., Glinskaya, E., Sen, G., & Zhang, S. (2018). Long-term care workforce issues. Options for Aged Care, 285.